According to a press <a href="https://twitter.com/cz_binance/status/1604802854400790530" target="_blank" rel="nofollow noopener">announcement</a> forwarded to CoinDesk Indonesia, <a href="https://www.cryptoknowmics.com/news/binance-token-ends-loss-streak-fueled-by-crypto-exchange-concerns">Binance</a> has completed the acquisition of Tokocrypto. Tokocrypto came into being over four years ago. The business's CEO and co-founder, Pang Xue Kai, said in a release that he is pleased to watch every development, catchphrase, and commitment the firm has made to promote Indonesia's digital economy.

https://twitter.com/cz_binance/status/1604802854400790530
<h2>Tokocrypto To Employ Binance Resources</h2>
The exchange concluded that the best course of action for Tokocrypto moving ahead is to use Binance's resources to create an additional physical trading platform for crypto assets.

According to Binance CEO <a href="https://www.cryptoknowmics.com/news/binance-ceo-changpeng-cz-zhao-warns-employees-of-difficult-times">Changpeng "CZ" Zhao</a>, the company has always had Binance as a significant stakeholder, but this action inserted additional capital and expanded the shareholding.
<h2>Bappebti - First Dealer of Digital Assets</h2>
As part of the transaction, Kai will resign from his post but keep his board seat. The nation's commodity regulator, Bappebti, has begun to regulate the first dealer of <a href="https://www.cryptoknowmics.com/news/forum3-raises-10m-to-bring-digital-assets-to-brands-loyalty-programs">digital assets</a> in Indonesia, Tokocrypto. The business declared that the Tokocrypto branding would not change.

The firm would have to downsize due to the unsettled macroeconomic environment, according to Yudhono Rawis, interim CEO of Tokocrypto. An "employee adaptation of about 58%" is anticipated, according to Rieka Handayani, vice president of organizational communication for the exchange.
<h2>Augmentation in TKO Token</h2>
In September, Tech In Asia stated that due to the unstable market, the exchange had let go of 45 staff and split off its communal space and <a href="https://www.cryptoknowmics.com/news/bybit-offers-new-kyc-rules-for-p2p-trading-fiat-deposits-and-nft-trades">NFT marketplace</a>.

CoinGecko reports that TKO, Tokocrypto's exchange token, is up 40% day-to-day when the news first surfaced in Indonesia. When the initial purchase rumors first surfaced, it was up roughly 66% month over month.

Binance Secures Acquisition of Indonesian Tokocrypto Exchange

According to a press announcement Binance has completed the acquisition of Tokocrypto. Tokocrypto was the invention over four years ago.

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Binance Secures Acquisition of Indonesian Tokocrypto Exchange

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